China's Didi said to be worth $56B after raising more cashSource: Sherisse Pham

China's homegrown answer to Uber is about to become the world's most valuable startup.

Didi Chuxing, the ride hailing company that beat Uber at its own game, said Thursday that it had secured $4 billion in fresh funds.

The new injection of cash gives Didi a staggering valuation of $56 billion, according to a person familiar with the deal.

That puts it on track to surpass Uber, the world's most valuable startup.

Last month, Uber was said to be worth $54 billion. Tech giant SoftBank (SFTBF) is close to buying a 13.4% stake in Uber at a steep discount -- the investment would value Uber at about 20% less than the $68 billion that investors thought it was worth in its most recent funding round last year.

Didi's latest valuation includes its acquisition of Uber's China operations, which it bought last year following a fierce battle between the rivals that was losing both companies money.

The fresh funds will be used for artificial intelligence, global expansion and building charging networks for electric cars, Didi said in a statement.